Scotts Miracle-Gro Co (NYSE:SMG) – Stock analysts at William Blair lifted their FY2021 EPS estimates for Scotts Miracle-Gro in a report released on Tuesday, September 15th. William Blair analyst J. Andersen now forecasts that the basic materials company will post earnings per share of $7.50 for the year, up from their previous estimate of $7.25. William Blair has a “Buy” rating on the stock.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $3.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.37 by $0.43. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.33 billion. Scotts Miracle-Gro had a return on equity of 45.36% and a net margin of 8.71%. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.11 earnings per share.
A number of other equities research analysts also recently weighed in on SMG. SunTrust Banks raised their target price on Scotts Miracle-Gro from $155.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Raymond James reaffirmed a “hold” rating on shares of Scotts Miracle-Gro in a report on Thursday, August 6th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Scotts Miracle-Gro presently has an average rating of “Hold” and a consensus target price of $128.50.
Shares of NYSE:SMG opened at $154.64 on Wednesday. The company has a market capitalization of $8.62 billion, a P/E ratio of 27.13 and a beta of 1.05. Scotts Miracle-Gro has a 1 year low of $76.50 and a 1 year high of $176.08. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.61 and a quick ratio of 1.16. The business’s 50 day simple moving average is $162.41 and its 200 day simple moving average is $134.63.
A number of large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its position in Scotts Miracle-Gro by 5.5% during the 2nd quarter. Principal Financial Group Inc. now owns 123,595 shares of the basic materials company’s stock worth $16,620,000 after purchasing an additional 6,481 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Scotts Miracle-Gro by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 50,012 shares of the basic materials company’s stock worth $6,724,000 after purchasing an additional 190 shares during the last quarter. WFA of San Diego LLC bought a new position in Scotts Miracle-Gro during the 2nd quarter worth $649,000. Handelsbanken Fonder AB bought a new position in Scotts Miracle-Gro during the 2nd quarter worth $840,000. Finally, FMR LLC raised its position in Scotts Miracle-Gro by 4.0% during the 2nd quarter. FMR LLC now owns 183,008 shares of the basic materials company’s stock worth $24,610,000 after purchasing an additional 6,982 shares during the last quarter. 64.86% of the stock is owned by institutional investors and hedge funds.
In other news, Director John R. Vines sold 1,491 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $157.79, for a total value of $235,264.89. Following the completion of the transaction, the director now directly owns 9,904 shares in the company, valued at approximately $1,562,752.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Katherine Littlefield Hagedorn sold 2,228 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $132.08, for a total value of $294,274.24. Following the completion of the transaction, the director now owns 5,980 shares of the company’s stock, valued at $789,838.40. The disclosure for this sale can be found here. Insiders sold a total of 62,800 shares of company stock valued at $8,498,725 over the last quarter. 28.20% of the stock is owned by corporate insiders.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.60%. This is a boost from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Wednesday, August 26th. Scotts Miracle-Gro’s dividend payout ratio is presently 55.48%.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.
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